Citigroup Inc. (NYSE:C) Holdings Lowered by Operose Advisors LLC

Operose Advisors LLC lowered its stake in Citigroup Inc. (NYSE:C) by 42.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,600 shares of the company’s stock after selling 1,180 shares during the quarter. Operose Advisors LLC’s holdings in Citigroup were worth $113,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Citigroup in the fourth quarter worth approximately $1,935,599,000. FMR LLC increased its stake in Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock valued at $2,418,754,000 after buying an additional 7,863,718 shares during the period. Franklin Resources Inc. lifted its position in Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after buying an additional 4,680,713 shares in the last quarter. Swedbank AB boosted its stake in shares of Citigroup by 90.2% during the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock valued at $586,120,000 after buying an additional 3,947,912 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Citigroup during the 4th quarter valued at $198,231,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

NYSE:C opened at $64.30 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The company has a fifty day moving average price of $72.22 and a 200 day moving average price of $70.97. The stock has a market cap of $121.02 billion, a P/E ratio of 10.81, a PEG ratio of 0.64 and a beta of 1.29.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. Analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup declared that its board has initiated a stock repurchase program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Monday, May 5th. Citigroup’s dividend payout ratio is presently 37.65%.

Insider Activity at Citigroup

In related news, insider Sara Wechter sold 15,125 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the transaction, the insider now owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the transaction, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on C. JPMorgan Chase & Co. lowered their target price on Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Truist Financial reduced their target price on shares of Citigroup from $85.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, April 4th. StockNews.com lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Sunday, March 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, Bank of America lowered their target price on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.54.

Citigroup Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.